- 1. Getting the basics right
- 2. Failing to plan, or planning to fail?
- 3. Which structure suits your business best?
- 4. Costs: How much are you in for?
- 5. What assistance is available?
- 6. Untangling technology
- 7. Financial foundations
- 8. Legal requirements
- 9. Insurance essentials
- 10. Marketing your business
- 11. Real life
- 12. Real help
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You've got the office, the chair, a million-dollar idea and you're raring to sign up your first new customer. But have you really got what it takes to run an efficient business?
- 1. Are you a self-starter?
- 2. Are you willing to work long hours?
- 3. Are you good at making decisions?
- 4. Do you plan well?
- 5. Do you have the strength to stay motivated?
- 6. Are you willing to invest?
- 7. Have you considered the impact on your family?
- 8. Do you have a network of friends who could provide outside financing?
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 Run an efficient business? |
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Are you failing to plan, or planning to fail? |
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 Are you failing to plan?
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A business plan is crucial to the success of any business. This plan is simply a step-by-step exercise in forward thinking.
- Before you begin writing your business plan, consider four core questions:
- Your business plan should do the following:
- Don't reinvent the wheel ...
- 10 reasons why small businesses fail
A sound business plan should contain crucial budgets and cash flow forecasts that will show how much profit you can expect your business to make, how much finance you will need and the risk involved. This helps to demonstrate your business idea, how you want to implement it and the long-term viability thereof.
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Which structure suits your business best? |
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There are several ways to structure the legal ownership of your business, depending on the nature of the business, the number of people involved, management capabilities, personal risk and your future plans.
- 1. Sole proprieter/sole trader:
- 2. Partnership:
- 3. Close corporation (CC):
- 4. Company (Pty) Ltd:
- 5. Tax Implications
- 6. How to Register your CC
- 7. WHAT IS ..."A trading trust"
- 8. WHAT IS ... "A cooperative"
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 Which structure for your business? |
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During start-up phase, the small business owner needs funds for once-off start-up costs as well as at least six months of working capital. Plan for things to cost more than you think, and include this budget in your business plan.
- 1. Calculating start-up costs
- 2. Beware of hidden costs
- 3. Remember those little extras
- 4. Success Tip
- 5. Lessons Learnt
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Business Tips 
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